10:47 AM EDT, 07/24/2024 (MT Newswires) -- Bunge's (BG) planned $8.2 billion merger with Glencore-backed Viterra is close to getting approval from the European Union after the firms addressed the regulator's concerns, Bloomberg reported Wednesday.

The company offered to divest all of Viterra's crush and refining capabilities for certain oilseeds in Poland and Hungary after the regulator initiated an investigation of the deal over competition concerns, according to the report.

The European Union officials will likely approve the deal on a conditional basis by Aug. 1, the report added, citing unnamed people familiar with the matter.

Neither Bunge nor Viterra immediately responded to MT Newswires' requests for comment. Glencore declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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